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☆ Western clothing craze sends sales of denim dresses and skirts soaring, Levi Strauss says
▼ + stars: | 2024-06-28 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Jeff Greenberg | Universal Images Group | Getty ImagesIn a lyric on her latest album, Beyoncé sings "denim on denim, on denim, on denim." Levi Strauss executives are ecstatic. Western wear is booming as consumers opt for top-to-bottom denim looks, the iconic, 171-year-old clothing maker said on Wednesday. Sales of denim skirts, jumpsuits and dresses all at least doubled in the latest quarter, Gass said. On the other hand, Levi Strauss earned 16 cents per share, excluding items, ahead of the 11-cent average estimate by analysts.

Persons: LEVI, Jeff Greenberg, Beyoncé, Levi Strauss, jean, Michelle Gass, Levi's, Carter, Louis Vuitton, Taylor, Gass, Levi, " Gass, Wall, Lee Organizations: Orlando Vineland, Universal, Getty, LSEG, CNBC, Dockers, Kontoor Brands Locations: Florida, Levi's, California, Kohl's

When you buy through our links, Insider may earn an affiliate commission. Learn moreWith more companies calling their employees back into the office, you may have realized that you own less business-casual attire than you thought. Even if you're still on your work-from-home grind most days, looking the part of a professional with the best men's workwear brands can be a major factor in having a productive work day. Here we've gathered our favorite places to shop online for the best cheap men's work clothes. We recommend Indochino for their made-to-measure suits, blazers, and button-downs you can customize to fit you to a T. And for an affordable bundle on work pants, Dockers is currently offering 2 pairs for $79.

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[1/2] Shipping containers move at the port of Barcelona, after stevedores' union has refused to load and unload any military material amid the war in Gaza and urged the protection of civilian populations in areas of conflict, in Barcelona, Spain, November 7, 2023. REUTERS/Nacho Doce Acquire Licensing RightsBARCELONA, Nov 7 (Reuters) - The Barcelona port stevedores' union has refused to load and unload any military material amid the war in Gaza and urged the protection of civilian populations in areas of conflict, following a similar move by Belgian transport unions last week. The decision on Monday is mostly symbolic and seeks to encourage other Spanish ports to follow suit, the secretary of the OEPB union, Josep Maria Deop, told Reuters on Tuesday. He said he was convinced there were military shipments from Barcelona because "it's a port that moves all types of goods". Israel has been targeting Hamas military operations in Gaza in the wake of the Oct. 7 attacks by Hamas Islamists on Israeli towns that left 1,400 people dead and 240 abducted.

Persons: stevedores, Josep Maria Deop, Deop, EFE, Joan Faus, Andrei Khalip, Bernadette Baum Organizations: Shipping, REUTERS, Rights, stevedores, Reuters, Western, Thomson Locations: Barcelona, Gaza, Spain, Rights BARCELONA, Belgian, Barcelona's, Israel, Libya, Western Sahara, Nicaragua

☆ Barcelona Dockers Refuse to Handle Military Material Amid Gaza War
▼ + stars: | 2023-11-07 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

The decision on Monday is mostly symbolic and seeks to encourage other Spanish ports to follow suit, the secretary of the OEPB union, Josep Maria Deop, told Reuters on Tuesday. Deop said organisations promoting peace could help the union figure out which containers contain military equipment. He said he was convinced there were military shipments from Barcelona because "it's a port that moves all types of goods". Israel has been targeting Hamas military operations in Gaza in the wake of the Oct. 7 attacks by Hamas Islamists on Israeli towns that left 1,400 people dead and 240 abducted. Spain exported military equipment worth 1.3 billion euros ($1.39 billion) in the first half of 2022, with shipments to Israel amounting to 9 million euros, according to the latest available official data.

Persons: Joan Faus BARCELONA, Josep Maria Deop, Deop, EFE, Joan Faus, Andrei Khalip, Bernadette Baum Organizations: stevedores, Reuters, Western Locations: Barcelona, Gaza, Belgian, Barcelona's, Israel, Spain, Libya, Western Sahara, Nicaragua

☆ Levi Strauss cuts full-year sales forecast again, as inflation takes a toll
▼ + stars: | 2023-10-05 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

It said it anticipates adjusted earnings per share to be on the low-end of the previously shared range of $1.10 to $1.20. Those retailers, which buy wholesale items from Levi to carry on their stores and websites, have seen weaker discretionary sales. For Levi, direct sales and international sales have been the stronger parts of its business. Like Nike , Levi has tried to control its own destiny by driving more of its overall sales through its own stores and website. Along with driving more direct sales, Levi is looking to expand in international markets.

Persons: LEVI, Sean Gallup, Levi Strauss, Chip Bergh, Harmit Singh, Levi —, Levi, Bergh, Denizen, Michelle Gass, Chip Bergh Levi Strauss Organizations: Getty, U.S, CNBC, LSEG, Walmart, Target, Nike Locations: U.S, Target, Asia, America, North America, Europe, Mexico, India, Macy's

☆ Levi Strauss trims annual profit forecast on higher costs, slowing consumer spending
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

July 6 (Reuters) - Levi Strauss & Co (LEVI.N) cut its annual profit forecast on Thursday, in a sign that higher costs were weighing on the denim maker's margins at a time when its wholesale sales remained under pressure in North America. Annual reported net revenue is expected to increase 1.5% to 2.5% from a year earlier, the apparel maker said, narrowing its previous forecast range of 1.5% to 3%. Industry peer American Eagle Outfitters (AEO.N) had also cut its full-year revenue forecast in May amid weak consumer spending environment. San Francisco-based Levi's has been grappling with higher costs, more promotions and supply chain snarls despite multiple price hikes on its products. Its quarterly revenue fell 9.1% to $1.34 billion, roughly in-line with analysts' expectations, according to Refinitiv data.

Persons: Levi Strauss, Granth, Shweta Agarwal Organizations: Dockers, Industry, Eagle Outfitters, Revenue, Target, Nordstrom, Thomson Locations: North America, United States, San Francisco, Europe, Americas, Bengaluru

☆ Levi Strauss CFO on Navigating Excess Inventory, His Expanded Role and Slower Hiring
▼ + stars: | 2023-04-22 | by ( Mark Maurer | ) www.wsj.com time to read: 1 min

High inventory levels have prompted Levi Strauss to discount certain products. Photo: Justin Sullivan/Getty ImagesLevi Strauss & Co. has kicked off a U.S. rollout of a system aimed at gaining better visibility into where its inventory is located and how well its branded stores are stocked, as the jeans maker continues to navigate excess supply and weaker spending from cost-conscious customers. The San Francisco-based company last week launched its new enterprise-resource-planning, or ERP, system in the U.S. after using it in Mexico and Canada, taking another step toward expanding its direct-to-consumer operation. At Levi Strauss, direct-to-consumer involves selling apparel through channels including the company’s roughly 240 U.S. stores under the Levi’s, Dockers and Beyond Yoga brands; its own e-commerce sites; and select “shop-in-shops” inside department stores.

[1/6] French energy workers on strike gather with dockers near tyres set on fire as they protest against French government's pension reform plan, in the port of Saint-Nazaire, France, January 26, 2023. An Elabe poll for BFM showed 72% of the French are against the pension reform. "Oil workers are against this (pension) reform but they don't want to be on the front line," said a CGT union representative for Exxonmobil. A spokesperson for Esso, whose two French refinery sites are run by ExxonMobil (XOM.N), said only truck loading operations were suspended at Fos, with everything else operating normally. A union representative added that production at the Port Jerome site was slightly impacted.

☆ Levi Strauss gives upbeat 2023 sales outlook as demand holds up
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

Jan 25 (Reuters) - Levi Strauss & Co (LEVI.N) forecast annual sales above Wall Street estimates on Wednesday, in a sign that demand for its jeans is holding up better than feared. Shares of the denim maker were up nearly 8% in extended trading after it also topped fourth-quarter sales and profit estimates. However, Levi's said it saw more consumers shopping at its stores in the Americas and Asia, boosting its direct-to-consumer business. Levi's fourth-quarter net revenue of $1.59 billion edged past estimates of $1.57 billion, while adjusted profit of 34 cents per share topped expectations of 29 cents. Reporting by Deborah Sophia in Bengaluru and Kate Masters in New York; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Levi Strauss beats estimates, offers upbeat guidance for fiscal year
▼ + stars: | 2023-01-25 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +2 min

Levi Strauss on Wednesday posted earnings and revenue that topped Wall Street's expectations. Shares of the company rose in after-hours trading as the company also offered upbeat sales guidance for its new fiscal year. Levi has been grappling with a slowdown in discretionary spending and a reduced demand for denim, leading some analysts to downgrade the stock. Europe will remain a strong focus for Levi in the coming fiscal quarter, Bergh said. Wall Street is estimating $6.27 billion in sales and $1.35 earnings per share.

☆ JCPenney was once a shopping giant. Can it make a comeback?
▼ + stars: | 2022-11-27 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +14 min

People walk past a JCPenney store at the Queens Center Mall in New York in 2016. The Denver Post/Getty Images Shoppers hurry across an intersection in front of a JCPenney store in Denver in 1964. Anne Cusack/The Los Angeles Times/Getty Images Customers shop at a new JCPenney store in New York in 2009. Mary Altaffer/AP A customer goes down an escalator at a JCPenney store in Westminster, Colorado, in 2009. Don Emmert/AFP/Getty Images JCPenney CEO Jill Soltau speaks during an interview in Fort Worth, Texas, in 2019.

☆ Netball Australia: Gina Rinehart pulls sponsorship in dispute over father's racist comments
▼ + stars: | 2022-10-23 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +11 min

Brisbane, Australia CNN —When Australia’s richest woman Gina Rinehart threw a financial lifeline to Netball Australia, she triggered a debate about sponsorships and the role of social and political issues in the sporting sphere. Donnell Wallam of the Firebirds is a rising star in Australian netball. On Monday, Kathryn Harby-Williams, CEO of the Australian Netball Players’ Association told the Australian Broadcasting Corporation that Wallam had asked for an exemption not to wear the logo and was refused. Netball Australia CEO Kelly Ryan told Nine News the loss of Hancock sponsorship was “disappointing” but a “strong balance” needs to be struck between social issues and funding. “When done well, sport sponsorship is brand transforming for both the sport and sponsor.”

☆ A new wave of UK port labor strikes begins, with 'massive impact' for Christmas supply chain
▼ + stars: | 2022-09-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

A striking dockworker on a picket line outside the Port of Liverpool during a strike in Liverpool, UK, on Tuesday, Sept. 20, 2022. The shop stewards who represent union workers accepted Peel Ports request for a meeting at the union office on Tuesday. Supply chain impact from second round of U.K. strikesThe latest development comes amid mounting labor issues linked to inflation at U.K. ports, with workers at the nation's largest port, Felixstowe, beginning another strike this week after one in August. "Unite made it clear that until they have reached their goals these waves of strikes will continue which will have a massive impact on the Christmas business and supply." The CNBC Supply Chain Heat Map shows the present situation at the ports.

☆ UK dock worker strikes to hit supply chains for companies including Ford
▼ + stars: | 2022-09-20 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

A striking dockworker on a picket line outside the Port of Liverpool during a strike in Liverpool, UK, on Tuesday, Sept. 20, 2022. This eight-day strike overlaps with a second strike at the UK's largest container port, the Port of Felixstowe, set to begin on Sunday. With multinational companies including Ford — which on Monday warned of a significant cost increase from supply chain pressures — exporting from the UK, the continuing labor strife will stress an already congested European port network. Ford is one of thousands of companies that use both the UK ports and the ports in Germany, Belgium, and Netherlands to export auto parts. According to FreightWaves SONAR data, the Port of New York and New Jersey receives 30 percent of all UK exports.

☆ Australia is asking its people one question and it's not whether to keep the King
▼ + stars: | 2022-09-13 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +9 min

But in Australia, despite Prime Minister Anthony Albanese's pro-republic views, there's no concerted push in that direction. Australian Prime Minister Anthony Albanese attends the Proclamation of King Charles III, on the forecourt of Parliament House on September 11, 2022 in Canberra, Australia. Today, Yu says views within the Australia's Indigenous community on the Queen are mixed -- as they are in most communities. He said after the Voice to Parliament passes, Australia may be ready to consider life after the monarchy. However Yu, from ANU, said the issue of Australia's Indigenous people must be addressed before any talk of a republic.

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